New research reveals the surreptitious ways in which the richest of the rich try to influence politics.
While some billionaires like Warren Buffett are outspoken on political issues most tend to say very little or speak in vague generalities. But a new working paper by political scientists Benjamin Page Jason Seawright and Matthew Lacombe finds that what billionaires say and what they do are dramatically different.
While billionaires rarely go on the record discussing Social Security and taxes they work behind the scenes to oppose policies favored by average Americans. Often there are deep disconnects between what billionaires say regarding policies and which organizations they fund.
The new study examines an even smaller and more insular group than the previous work of Page and Seawright: the richest 100 American billionaires.